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Raw Materials Inventory, June 1 Purchases Total Raw Materials Available for Use Less: Raw Materials Inventory, June 30 Total Materials Used Indirect Materials Direct Materials Used Direct Labor Manufacturing Overhead JenJen Printer Inc. Statement of Cost of Goods Sold June 30, 2020 Total Manufacturing Cost Work in Process, June 1 Total goods Put into Process Less: Work in Process, June 30 Total Goods Manufactured Finished Goods, June 1 Total Goods Available for Sale Less: Finished Goods, June 30 Cost of Goods Sold P P 50,000.00 86,900.00 136,900.00 46,500.00 90,400.00 5,800.00 84,600.00 66,500.00 53,200.00 204,300.00 40,000.00 244,300.00 19,200.00 225,100.00 30,000.00 255,100.00 33,600.00 221,500.00

Raw Materials Inventory, June 1 Purchases Total Raw Materials Available for Use Less: Raw Materials Inventory, June 30 Total Materials Used Indirect Materials Direct Materials Used Direct Labor Manufacturing Overhead JenJen Printer Inc. Statement of Cost of Goods Sold June 30, 2020 Total Manufacturing Cost Work in Process, June 1 Total goods Put into Process Less: Work in Process, June 30 Total Goods Manufactured Finished Goods, June 1 Total Goods Available for Sale Less: Finished Goods, June 30 Cost of Goods Sold P P 50,000.00 86,900.00 136,900.00 46,500.00 90,400.00 5,800.00 84,600.00 66,500.00 53,200.00 204,300.00 40,000.00 244,300.00 19,200.00 225,100.00 30,000.00 255,100.00 33,600.00 221,500.00

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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How did they get the finished goods, beginning and finished good, ending. How to get that amount?
JenJen Printer Inc. Statement of Cost of Goods Sold June 30, 2020 Raw Materials Inventory, June 1 Purchases Total Raw Materials Available for Use Less: Raw Materials Inventory, June 30 Total Materials Used Indirect Materials Direct Materials Used Direct Labor Manufacturing Overhead Total Manufacturing Cost Work in Process, June 1 Total goods Put into Process Less: Work in Process, June 30 Total Goods Manufactured Finished Goods, June 1 Total Goods Available for Sale Less: Finished Goods, June 30 Cost of Goods Sold P P 50,000.00 86,900.00 136,900.00 46,500.00 90,400.00 5,800.00 84,600.00 66,500.00 53,200.00 204,300.00 40,000.00 244,300.00 19,200.00 225,100.00 30,000.00 255,100.00 33,600.00 221,500.00
Transcribed Image Text:JenJen Printer Inc. Statement of Cost of Goods Sold June 30, 2020 Raw Materials Inventory, June 1 Purchases Total Raw Materials Available for Use Less: Raw Materials Inventory, June 30 Total Materials Used Indirect Materials Direct Materials Used Direct Labor Manufacturing Overhead Total Manufacturing Cost Work in Process, June 1 Total goods Put into Process Less: Work in Process, June 30 Total Goods Manufactured Finished Goods, June 1 Total Goods Available for Sale Less: Finished Goods, June 30 Cost of Goods Sold P P 50,000.00 86,900.00 136,900.00 46,500.00 90,400.00 5,800.00 84,600.00 66,500.00 53,200.00 204,300.00 40,000.00 244,300.00 19,200.00 225,100.00 30,000.00 255,100.00 33,600.00 221,500.00
Sales Cost of Sales/Cost of Goods Sold Gross Loss Operating Expenses Selling Expenses General Expenses Total Operating Expenses Operating Loss Finance Costs Net Loss JenJen Printers Statement of Comprehensive Income June 30, 2020 P 30,000.00 221,500.00 (191,500.00) 20,000.00 15,000.00 35,000.00 (226,500.00) P (226,500.00)
Transcribed Image Text:Sales Cost of Sales/Cost of Goods Sold Gross Loss Operating Expenses Selling Expenses General Expenses Total Operating Expenses Operating Loss Finance Costs Net Loss JenJen Printers Statement of Comprehensive Income June 30, 2020 P 30,000.00 221,500.00 (191,500.00) 20,000.00 15,000.00 35,000.00 (226,500.00) P (226,500.00)
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